RBS recorded an operating profit of around £2.23 billion, up from
a loss of around £4.08 billion last year.

Ross McEwan, the bank's CEO, said: "This is a symbolic moment for
this bank and a clear indication of the progress we continue to
make in putting the past behind us, while at the same time
investing to build a bank which delivers for both customers and
shareholders.

"With many of our legacy issues behind us, the investment case
for this bank is much clearer and the prospect of returning any
excess capital to shareholders is getting closer."

Despite a return to full-year profitability, the bank still faces
challenging times, with the expectation that it will be hit with
a substantial fine by the US Department of Justice over the
historical sale of mortgage-backed securities.

"The number of legacy issues the bank faces has reduced," RBS
said in its results statement.

"However, we have one major legacy issue that we have yet to
resolve which is with the US Department of Justice. The timing of
the resolution of this issue is not in our control."